SEOUL, Aug 10 (Reuters) – Samsung Electronics (005930.KS) unveiled its latest high-end foldable smartphones on Wednesday, keeping prices at the same level as last year’s in a bid to cement its leadership in an expanding niche market.
The smartphone maker priced its clamshell Galaxy Z Flip4 at $999.99, and the 5G-enabled top-line Galaxy Z Fold4 with a 7.6-inch main screen to start at $1,799.99 in the United States, the same as the launch prices of last year’s models.
“We’ve successfully transformed this category from a radical project to a mainstream device lineup enjoyed by millions worldwide,” said TM Roh, president and head of mobile experience at Samsung Electronics.
The Galaxy Z Flip4 and Z Fold4, as well as its latest earbuds, Galaxy Buds2 Pro, will be generally available starting Aug. 26 in select places such as the United States, parts of Europe and South Korea.
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Counterpoint Research forecast global shipments of foldable smartphones to grow to 16 million units this year, just 1.2% of the 1.36 billion smartphone shipments forecast, but a jump from 9 million foldables shipped last year.
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A Samsung Electronics’ Galaxy Z Flip 4 foldable smartphone is seen in this undated handout provided by Samsung Electronics. Samsung Electronics/Handout via REUTERS
Although the overall smartphone market is seen shrinking this year as consumers spend less, foldable smartphones are likely to fare better, as their quirky form factor, large screens and portability attract interest, analysts said.
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Samsung held a 62% market share in foldable smartphones in the first half of 2022, followed by Huawei at 16% and Oppo at 3%. Counterpoint forecast Samsung’s share in the second half will be around 80% after the new releases.
